Bharti Airtel has rallied nearly 6% to Rs 360 after the company said its consolidated operating or EBITDA margin improvement for the second quarter ended September 2013 (Q2FY14).
The stock has recovered 7.5% from intra-day’s low of Rs 335 touched in early morning deals on the Bombay Stock Exchange.
The company’s consolidated EBITDA grew by 15.1% year on year (yoy) at Rs 6,832 crore with margin expanding to 32.0% from 30.6% in the corresponding quarter last year, driven by India EBITDA margin improvement from 32.6% to 34.8%, Bharti Airtel said in a statement.
The consolidated revenues grew by 10% at Rs 21,324 crore on yoy basis, it added.
The company’s consolidated net debt in US dollar terms has reduced to $ 9,697 million resulting in the net debt to EBITDA ratio improving to 2.18 times as compared to 2.59 times at the end of the same quarter last year.
Meanwhile, Bharti Airtel has reported 29% yoy decline in consolidated net profit at Rs 512 crore mainly due to higher forex loss. The company had profit of Rs 712 crore in a year ago quarter.
The company said, the continued depreciation of the Indian Rupee has resulted in forex restatement and derivative losses of Rs 342 crore in Q2FY14 against Rs 25 crore in the corresponding quarter of previous fiscal.
The stock has recovered 7.5% from intra-day’s low of Rs 335 touched in early morning deals on the Bombay Stock Exchange.
The company’s consolidated EBITDA grew by 15.1% year on year (yoy) at Rs 6,832 crore with margin expanding to 32.0% from 30.6% in the corresponding quarter last year, driven by India EBITDA margin improvement from 32.6% to 34.8%, Bharti Airtel said in a statement.
The consolidated revenues grew by 10% at Rs 21,324 crore on yoy basis, it added.
The company’s consolidated net debt in US dollar terms has reduced to $ 9,697 million resulting in the net debt to EBITDA ratio improving to 2.18 times as compared to 2.59 times at the end of the same quarter last year.
Meanwhile, Bharti Airtel has reported 29% yoy decline in consolidated net profit at Rs 512 crore mainly due to higher forex loss. The company had profit of Rs 712 crore in a year ago quarter.
The company said, the continued depreciation of the Indian Rupee has resulted in forex restatement and derivative losses of Rs 342 crore in Q2FY14 against Rs 25 crore in the corresponding quarter of previous fiscal.
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